Printers and copiers are key pieces of office equipment for any business, big or small. When you’re in the market for new office equipment, you may be wondering whether to buy or lease. While buying may be more costly, there are advantages to copy machine rentals as well. So, is it better to buy or lease a copier? Check out the comparisons below and decide which works best for you.
Both buying outright and leasing have their place in business, depending on your needs. For instance, if your business has a high print volume, it may be best to buy a copier instead of leasing. For smaller businesses that don’t need to print or copy paperwork as often, leasing would be a much better option.
Another area to consider when you’re debating on copy machine rentals or buying is your budget. Lower end copiers can run around $1,500, with high-end copiers running up to $10,000. Some of the larger commercial copiers can even cost over $20,000. Though the low-end copiers are significantly cheaper than their upgraded versions, small businesses may not have that money to budget for a copier. In this case, leasing a copier would be beneficial since you can get access to the machines you need for low monthly payments.
Keep in mind that copy machine rentals will cost more in the end run. The total amount of the lease will typically be a few hundred dollars more than it would have cost to buy the machine outright, especially if it is a longer-term lease. There is typically no down payment required though, so even small businesses can have access to the equipment they need. Leasing also allows you to keep track of your equipment budget since you’ll already know your monthly payments. You never know when you might need to call in for a repair, making it more difficult to budget repairs when buying a copier.
Many copy machine rental companies are offering a package deal for their lease copiers and lease printers. With these deals, businesses pay a little more each month on their bill to cover maintenance should the machine require a fix. Some companies even include toner and paper as part of a bundle deal. When leasing a copier, you won’t have any say in the maintenance done.
On the other hand, buying a copier puts you in charge of all maintenance. With this responsibility comes more costs. Since the copier is bought, finding maintenance and scheduling and paying for repairs falls on you. This could potentially incur a large expense, depending on the maintenance needed. You will also be responsible for buying toner and paper as needed.
Leasing a copier means locking yourself into a contract with the rental company. Contracts vary from company to company, each with their own rules. If you’re going to lease a copier, be sure to read the contract completely so you understand exactly what is included and excluded. These lease contracts may turn some people away, but there is some good that can come from it. Some copy machine rental companies are offering a buy out at the end of the lease, where you can purchase the equipment for $1.
When buying, there is no extra paperwork, no long-term agreements, and no contracts. You just pay for what you need and go.
Office equipment like printers and copiers tend to get new models every few years. When copiers that are bought become outdated, it will be another hefty expense to bring the office up to date. Bought copiers can be resold when it’s time to upgrade though, so you can get a little return on the investment to put towards a new model.
When leasing copiers, the company may give you the option to upgrade when new models are released, but you won’t get a return on the money you’ve already put into the copier or printer. You may even notice a slight increase in your payments. If you’re upgrading while still in a lease, be sure to get the costs clarified.
Whether you lease or buy a copier, it is tax-deductible. The entire cost of the copier is tax-deductible if it is purchased, whereas only the monthly payments made for the year are tax-deductible when leasing.
You don’t have to dish out thousands of dollars to get the office equipment you need, even if you’re a small business with a limited budget. Copy machine rental is a great option for those who can’t afford to buy a copier outright, but it does have some downsides. You’ll be stuck in a contract for however long the lease is for and it will end up costing more by the end of the lease than it would to just purchase. Despite those things, maintenance may be included with your monthly payments, there’s no down payment, and the monthly payments are budget-friendly. Plus, the company you’re leasing from may offer the option to upgrade your equipment as your needs change, where you would be stuck with your copier for a little while longer if you bought it, since it would be another large expense to upgrade.
Whatever your needs are, both buying and leasing are viable options. You just have to consider your budget and what your business needs. Contact us for help finding the best option for you!